East West Bancorp, Inc. (NASDAQ:EWBC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

EWBC has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a research report on Tuesday, September 26th. Deutsche Bank AG downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a research report on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and issued a $61.00 price objective on shares of East West Bancorp in a research report on Thursday. Piper Jaffray Companies set a $68.00 target price on shares of East West Bancorp and gave the company a “buy” rating in a report on Saturday, June 17th. Finally, BidaskClub cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.13.

Shares of East West Bancorp (EWBC) traded up 0.57% during trading on Friday, reaching $60.01. 704,976 shares of the company traded hands. East West Bancorp has a 52 week low of $37.75 and a 52 week high of $60.74. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 17.14 and a beta of 1.46. The firm’s 50 day moving average price is $56.35 and its 200-day moving average price is $55.68.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The company had revenue of $337.49 million for the quarter, compared to the consensus estimate of $329.32 million. During the same period in the prior year, the firm posted $0.71 EPS. Equities analysts anticipate that East West Bancorp will post $3.71 EPS for the current fiscal year.

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In other news, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.88% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. D.A. Davidson & CO. boosted its stake in East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 26 shares during the period. Cadence Capital Management LLC boosted its stake in East West Bancorp by 1.0% during the 2nd quarter. Cadence Capital Management LLC now owns 5,859 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 60 shares during the period. Wright Investors Service Inc. boosted its stake in East West Bancorp by 0.6% during the 2nd quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock worth $829,000 after purchasing an additional 90 shares during the period. Utah Retirement Systems boosted its stake in East West Bancorp by 0.4% during the 2nd quarter. Utah Retirement Systems now owns 26,294 shares of the financial services provider’s stock worth $1,540,000 after purchasing an additional 100 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its stake in East West Bancorp by 1.3% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,354 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 90.48% of the company’s stock.

About East West Bancorp

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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